FIRST ANNUAL REPORT ON THE IMPLEMENTATION AND OPERATION OF PART 3 (FINANCIAL PROVISIONS) OF THE SCOTLAND ACT 2012 by Great Britain: Scotland Office ( 9780108512360 )

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Title:

FIRST ANNUAL REPORT ON THE IMPLEMENTATION AND OPERATION OF PART 3 (FINANCIAL PROVISIONS) OF THE SCOTLAND ACT 2012

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Format:

Paperback

List price:	£10.75
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ISBN 10:

0108512363

ISBN 13:

9780108512360

Publisher:

TSO

Pub. date:

25 April, 2013

Pages:

Synopsis:

Part 3 of the Scotland Act 2012 deals exclusively with the devolution of financial powers. These include: the creation of a new Scottish rate of income tax; the disapplication of UK stamp duty land tax in Scotland and provision for the introduction of a new Scottish tax on land transactions; the disapplication of UK landfill tax in Scotland and provision for the introduction of a new Scottish tax on disposals to landfill; provision for borrowing by Scottish Ministers; and the power to devolve further existing taxes and create new devolved taxes. The financial provisions represent a substantial body of work and it is recognised that their implementation must be carefully managed over a period of time. The financial provisions will be implemented over a number of years, to ensure that appropriate transitional arrangements are put in place. In order that both the UK and Scottish Parliaments are fully informed through this process, section 33 of the Scotland Act 2012 requires the Secretary of State for Scotland and Scottish Ministers to report annually on the implementation of this part of the Act.This is the first of these annual reports and concludes that the implementation of Part 3 of the Scotland Act 2012 is progressing effectively and efficiently

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Imprint:

TSO

Returns:

Non-returnable

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